USDA Weekly Export Sales

27/06/13 -- The USDA weekly export sales report is just out, here's the highlights:


Sales of 14,500 MT of old crop and 451,100 MT of new crop beat trade expectations of a combined 1-400 TMT. China took 360,000 MT of the new crop. Exports of 223,000 MT were up noticeably from the recent weeks.


Corn sales came in at 336,700 MT of old crop and 153,600 MT of new crop versus expectations of a net 2-500 TMT combined. Interesting to see sales skewed in favour of old crop which may continue to support the Jul 13 future. Shipments this week were only 151,200 MT though, less than half last week and the 4-week average.


Wheat sales beat trade expectations of 3-600 TMT at 731,800 MT. Brazil was the main buyer. Exports came in at 479,000 MT.


Meal sales of 9,200 MT of old crop and just 100 MT came in well below the 50-150 TMT expected.